Grading Your Property

Setting a realistic price for holiday rent is the key to ensuring high occupancy and satisfied customers who will return again and again. Setting the rent too high will ultimately result in complaints from customers who do not feel they have had value for money. Setting the rent too low will result in loss of income and therefore make your holiday cottage venture unsuccessful. The amount or rent you will be able to charge will depend largely on the grade given to your property.

Using A Holiday Company

If you decide to pay for the services of an agent to let your cottage for you, it will be their job to grade your property. It is entirely up to you whether you agree with the agent or prefer to market your property at a different price to that recommended. However, it is important to realise that an agent has lots of experience with regard to grading property and will have inspected hundreds of houses. The agent will be able to use past experience as a comparison when setting the grade for your property. Some agents will allow you to set your own pricing structure (providing this is not ridiculous, and they feel happy that they can achieve bookings at your chosen level), while others will insist that you go with their grading and pricing structure.

Using A Holiday Let Company

Holiday let agents each have their own methods of grading property, and the system they use will be explained both to you and to any prospective holidaymakers. The grading system is there to enable customers to make an informed choice on the type of holiday they wish to book. Without grading it would be difficult for customers to have an idea of the facilities on offer or the standard of the accommodation.

Although in today’s society a lot of people have access to the internet and can therefore view the accommodation before booking, grading is a good way of helping those people who do not have internet access or those who choose to book their holiday using a brochure. Grading also makes the whole booking procedure much easier, as a prospective holiday-maker can request specific details of high-graded properties if they require luxury or low-graded properties if they prefer basic, low-budget accommodation. The grading system cuts out the need to sift through thousands of holiday properties when perhaps only 50 will be of interest.

The facilities you offer in your accommodation, together with the décor, fixtures and fittings, will all have an impact on the grading your property receives.

Grading Systems

Some agencies grade properties using a ‘star’ grading system. The more stars the property has the more luxurious the accommodation. Others use symbols or numbers that refer to a pricing grid which varies depending on the facilities on offer. An even simpler way is to say in the brochure or on the website exactly what the agent’s view of the property is, for example ‘Comfortable’, ‘Good Quality’ or ‘Outstanding’. Each agency will have its own system and this will be explained to you if you request their services.

Assessing Accommodation

The number of guests your accommodation can sleep will also have an impact on the price you will be able to charge. However, this does not necessarily mean that a property sleeping eight people can command a higher rate than one sleeping only four. The internal décor and the number of facilities on offer will be a deciding factor on the rental you request. This is where added luxuries can pay dividends. It is always important to go that little bit further and provide extras to appeal to holidaymakers who will be prepared to pay more for luxury.

Every agency will of course want to ensure that the properties they have on offer meet high standards, as this is their way of generating business. Like you, an agency relies on bookings and satisfied customers returning to them. It is vital that the agency you choose grades your property accurately and commands the best price for the accommodation based on its sleeping arrangements, amenities, facilities and, of course, location. Some companies enlist the English Tourism Council to train their representatives in order that they can accurately assess and grade the properties.

The following is a list of some of the things that may have an impact on the grading your property will receive.